UBS Loses Another Puerto Rico Bonds & Closed-End Fund Case More than six years after thousands of investors lost many millions of dollars from investing in Puerto Rico bonds and closed-end bond funds, UBS Puerto Rico (UBS-PR) is still being held to account for the financial losses faced by many…
SSEK Investigating Ex-Commonwealth Financial Network Broker SSEK Law Firm is meeting with investors who suffered losses while working with former Commonwealth Financial Network broker, Gerald Allan Eaton, or another financial representative from the firm. Eaton was recently barred by the Financial Industry Regulatory Authority (FINRA) in the wake of allegations…
SSEK Investigate Investment Fraud Claims Made Against 1 Global Capital If you are someone who invested in 1 Global Capital notes at the recommendation of your broker or financial advisor, you may have grounds for filing an investment fraud claim. 1 Global is accused of operating a $322M scam and…
Summit Investment Management To Pay Investor $100K A Financial Industry Regulatory Authority (FINRA) panel said that Summit Investment Management and portfolio manager, Thomas Carroll, must pay one firm client $100K for investing his money in funds from the investment manager, LJM Partners, which is no longer in operation. The LJM…
Frederick Randhahn, a former Sigma Financial Corporation broker, is suspended by the Financial Industry Regulation Authority (FINRA) for nine months after he allegedly sold $625K of Woodbridge promissory notes to investors without the brokerage firm’s permission and approval to sell these products. In a letter of acceptance, waiver and consent,…
SSEK Investigates Capital Financial Investments And Ex-Broker Sean Kelly Over Investor Claims At the heart of recent investor claims against Capital Financial are allegations against one of its ex-brokers, Sean Kelly. Sean Kelly was accused last year by the US Securities and Exchange Commission (SEC) of defrauding a dozen investors.…
UBS Group Fined $51M By Hong Kong Securities Regulator The Hong Kong Securities and Futures Commission (SFC) is ordering UBS Group AG (UBS) to pay a $51M fine for overcharging clients between 2008 and 2017. It is also ordering the Swiss banking giant to pay more than $25M in compensation…
The New Jersey Bureau of Securities has revoked the registration license of First Standard Financial Company, a broker-dealer based in Red Bank, NJ. The move comes in the wake of allegations that First Standard and its representatives engaged in improper short-term trading, causing them to illegally make over $28.7M in…
SSEK Investigating Ex-Raymond James Advisor, Stuart Nichols Another former Raymond James advisor has gotten into trouble over fraud allegations. The Financial Industry Regulatory Authority (FINRA) recently barred Stuart Nichols, a former broker with the firm, after he failed to participate in the self-regulatory authority’s probe into churning allegations made against…
Financial Industry Regulatory Authority (FINRA) has fined former Texas broker Steven Yellen $25K for allegedly making unauthorized trades while he was a registered representative for both Ameriprise (AMP) and Morgan Stanley (MS). The self-regulatory authority (SRO) notes at least 30 instances in which Yellen executed trades without customer authorization. After…